Kamalnayan Bajaj - page 66

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KamalnayanBajaj –Architect of theBajajGroup
UnderKamalnayan’s leadership,Mukand’s sales
grew toRs. 26.64 crore in 1972-73, a leapup from
Rs. 49.27 lakh in 1947. Profitswere ahealthy
Rs. 3.20 crore. It nowhad three divisions: the steel
making factory and amachine building plant atKalwe;
and the foundry atKurla.
AsVirenShah, who took over the chairmanship
afterKamalnayanpassed away, noted, over the years
Mukandhad acquired a certaindegree of competence
and capacity to assist others. It helped aMalaysian
company establish a steel foundry inMalaysia.Under
a technical agreement,Mukandprovided know-how
toPolysteels (India) Ltd at Bhavnagar for amini steel
plant with two electric arc furnacesmaking ingots and
Riseof thePhoenix
Shedding thepast, inOctober1958Kamalnayan re-entered the steel
re-rollingbusinesswithplans for anewplant atKalwe, on theoutskirts
ofBombay. Kamalnayan is standing to the right of the foundation stone.
Snugglednext tohim isyoungNiraj.
The triumvirate: Kamalnayan (5th from left), Viren (4th) and
Rameshwarprasad (8th) at aMukandAGM
Railwayswereprimarycustomers forMukand. In thispicture,
Kamalnayan (wearingcap) is showing theKurla foundry toSKPatil,
UnionRailwayMinister (centre inwhite), 1965.
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